Douglas Lane & Associates LLC Sells 45,768 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Douglas Lane & Associates LLC reduced its holdings in JPMorgan Chase & Co. by 6.1%, owning 701,037 shares worth approximately $203 million.
• In related news, Director Linda Bammann sold 9,500 shares of JPMorgan’s stock, decreasing her position by 10.36%.
• JPMorgan Chase & Co. reported earnings of $4.96 per share, exceeding analysts' expectations, with a revenue of $44.91 billion for the quarter.

Douglas Lane & Associates LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 701,037 shares of the financial services provider's stock after selling 45,768 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.9% of Douglas Lane & Associates LLC's holdings, making the stock its 2nd biggest holding. Douglas Lane & Associates LLC's holdings in JPMorgan Chase & Co. were worth $203,238,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JPM. Florida Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $471,000. Crown Wealth Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 78 shares during the period. Finally, Morse Asset Management Inc boosted its stake in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several analyst reports. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Truist Financial lifted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $1.32 during mid-day trading on Friday, reaching $306.88. The company had a trading volume of 6,845,781 shares, compared to its average volume of 6,719,976. The stock has a market capitalization of $843.84 billion, a P/E ratio of 15.75, a PEG ratio of 2.04 and a beta of 1.13. The stock has a 50 day moving average of $293.94 and a two-hundred day moving average of $267.38. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $307.55. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.12 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.